Sri Chakra Cement Limited has announced the appointment of statutory auditors for the financial year 2026-27. The decision was taken by the Board of Directors following the recommendations of the company's Audit Committee. The appointments are effective from May 22, 2026.

Internal Auditor Appointment

The Board approved the appointment of M/s. T Mohan & Associates as the Internal Auditor. The firm is a chartered accountant firm based in Hyderabad, with Mr. T Mohan serving as the managing partner. The firm's client base includes large, medium, and multinational companies across sectors such as cement, power, engineering, textile, sugar, and construction. Their team specializes in finance, taxation, accounting, and advisory services.

Cost Auditor Appointment

M/s. Naval & Associates has been appointed as the Cost Auditor for FY 2026-27. This firm of cost accountants brings experience in cost audit, cost consultancy, management consultancy, and business advisory. Their expertise also covers GST, internal audit, stock audit, and various financial laws. The company confirmed that there are no relationships to disclose between the directors of Sri Chakra Cement Limited and the appointed auditors.

Appointment Details

Sri Chakra Cement Limited's board of directors convened on May 22, 2026, to approve the audited financial results for the financial year ended March 31, 2026. The meeting, which commenced at 09:00 PM and concluded at 11:30 PM, also ratified the Directors' Report for the fiscal year. The statutory auditors, M/s. C Ramachandram & Co, provided an unmodified opinion on the financial statements.

Financial Performance

For the full year ended March 31, 2026, the company reported a net loss of ₹2,290.86 lakhs compared to a net loss of ₹5,682.88 lakhs in the previous year. Revenue from operations for the year increased to ₹12,855.26 lakhs from ₹10,748.51 lakhs in the prior year. Total revenue stood at ₹13,211.68 lakhs for FY26.

The company reported a basic and diluted earnings per share (EPS) of (₹25.45) for the year, an improvement from the (₹63.14) reported in the previous year. For the quarter ended March 31, 2026, the net loss was ₹175.81 lakhs, with revenue from operations at ₹3,016.76 lakhs.

Key Financial Metrics

Assets and Liabilities

As of March 31, 2026, the company's total assets stood at ₹13,305.34 lakhs, a decrease from ₹14,081.76 lakhs in the previous year. Non-current assets were recorded at ₹10,772.28 lakhs, while current assets totaled ₹2,533.06 lakhs. Total equity and liabilities amounted to ₹13,305.34 lakhs, with total equity at a negative balance of ₹3,371.33 lakhs.

Board Decisions and Approvals

During the meeting, the board approved the re-appointment of Sri K Vijayulu Reddy as an Independent Director for a second term of five years effective from November 9, 2026, subject to shareholder approval. Additionally, M/s. T Mohan & Associates were appointed as the Internal Auditor and M/s. Naval & Associates as the Cost Auditor for FY27. The board also noted the absence of any outstanding defaults on loans or debt securities.